Exercise of options and PDMR dealing

RNS Number : 6008F

Arecor Therapeutics PLC

08 November 2022

 

Arecor Therapeutics plc

("Arecor", the "Company" or the "Group")

Exercise of rollover options, PDMR dealing and Total Voting Rights

Cambridge, UK,  8 November 2022:   Arecor Therapeutics plc (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives ,   announces that it has issued and allotted 131,433 new Ordinary Shares of 1 pence each in the share capital of the Company following an exercise of options on 7 November 2022 at an exercise price of 1 pence per Ordinary Share. The options exercised were part of the rollover of share options previously granted under the historic Arecor Limited EMI Share Option Plan 2018 ("Option Rollover"). Details of the Option Rollover are set out in the Company's Admission Document.

Included in the exercise of options were options over 109,958 ordinary shares held by Directors/PDMRs of the Company as detailed in the table below:

Director/ PDMR	Position	Existing interest in Ordinary Shares	Number of Options over Ordinary Shares exercised	Resultant interest in Ordinary Shares	Rollover options remaining after exercise
David Gerring	VP, Development	151,292	3,334	154,626	0
Sarah Howell	Chief Executive Officer	847,072	20,666	867,738	0
Jan Jezek	Chief Scientific Officer	404,474	3,334	407,808	0
Fiona Lawrence	VP, Clinical & Regulatory Affairs	70,334	1,666	72,000	0
Susan Lowther	Chief Financial Officer	139,849	62,000	201,849	0
James MacDonald-Clink	VP, Business Development	25,000	18,958	43,958	16,042

Admission

Following the above transactions, application has been made for the 131,433 new Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on, or around, 11 November 2022. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

The total number of Ordinary Shares in issue following Admission will be 30,618,183 accordingly, the figure of 30,618,183 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

Arecor Therapeutics plc	www.arecor.com
Dr Sarah Howell, Chief Executive Officer	Tel: [phone] Email:  [e-mail]
Susan Lowther, Chief Financial Officer	Tel: [phone] Email:  [e-mail]
Mo Noonan, Communications	Tel: [phone] Email:  [e-mail]
Panmure Gordon (UK) Limited (NOMAD and Broker) Freddy Crossley, Emma Earl (Corporate Finance) Rupert Dearden (Corporate Broking)	Tel: [phone]
Consilium Strategic Communications
Chris Gardner, David Daley, Angela Gray	Tel: [phone] Email:  [e-mail]

Notes to Editors

About Arecor

Arecor Therapeutics plc is a globally focused biopharmaceutical company transforming patient care by bringing innovative medicines to market   through the enhancement of existing therapeutic products. By applying our innovative proprietary formulation technology platform,   Arestat™, we are developing an internal portfolio of proprietary products in diabetes and other indications, as well as working with leading pharmaceutical and biotechnology companies to deliver enhanced formulations of their therapeutic products. The Arestat   ™ platform is supported by an extensive patent portfolio. 

For further details please see our website,  www.arecor.com

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	a)  David Gerring b)  Sarah Howell c)  Jan Jezek d)  Fiona Lawrence e)  Susan Lowther f)  James MacDonald-Clink
2.	Reason for the notification
a)	Position/status:	a)  VP, Development b)  Chief Executive Officer c)  Chief Scientific Officer d)  VP, Clinical & Regulatory Affairs e)  Chief Financial Officer f)  VP, Business Development
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Arecor Therapeutics plc
b)	LEI:	98450093D12I3A8DDD58
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary shares of 1 pence each GB00BMWLM973
b)	Nature of the transaction:	Exercise of options over ordinary shares
c)	Price(s) and volume(s):	Price(s) Volume(s) a) £0.01 a) 3,334 b) £0.01 b) 20,666 c) £0.01 c) 3,334 d) £0.01 d) 1,666 e) £0.01 e) 62,000 f) £0.01 f) 18,958
d)	Aggregated information: ·   Aggregated volume: ·   Price:	109,958 £0.01
e)	Date of the transaction:	07 November 2022
f)	Place of the transaction:	London Stock Exchange, AIM Market (XLON)

 

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